HOBOKEN, N.J., Aug. 14, 2025 -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today released financial results for the three and six-month periods ended June 30, 2025.
Dr. Yuping Huang, Interim Chief Executive Officer of QCi, commented, "We delivered meaningful commercial progress in the second quarter with new customer wins across quantum sensing, cybersecurity, and AI. Our first shipments to leading research institutions and commercial enterprises in Europe, Asia, and the U.S., together with our deepening engagement with NASA, underscore the growing demand for QCi's photonic technologies and mark an important step in our commercial journey.
"The launch of our operational chip foundry in Arizona represents a major strategic milestone, enabling us to fulfill pre-orders and support scalable production across multiple end markets, including datacom, telecom, and advanced sensing. In parallel, we've strengthened our leadership team to support this next phase of growth and execution. With commercial activity accelerating and strong customer interest across verticals, we remain focused on delivering practical quantum and photonic solutions that address real-world challenges."
Second Quarter 2025 Financial Highlights
- Second quarter 2025 revenues totaled approximately $61,000 (43% gross margin) compared to $183,000 (32% gross margin) recorded in the second quarter of 2024. Gross margin can vary at our current revenue levels. Accordingly, the year-over-year variation is not significant.
- Second quarter 2025 operating expenses totaled $10.2 million compared to the previous year's second quarter operating expenses of $5.3 million. The year-over-year increase was primarily driven by higher employee-based expenses.
- The Company reported a net loss attributable to common stockholders of $36.5 million, or $0.26 per basic share for the second quarter of 2025, compared to a net loss attributable to common stockholders of $5.2 million or $0.06 per basic share for the same period of the previous year. The increase in net loss this quarter was primarily due to a $28 million non-cash loss on the mark-to-market valuation of the Company's warrant derivative liability, which relates to our merger with Q
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